Cathie Wood's Ark Dumps $2.1 Million Of This Hot AI Stock Despite Recent Acquisition Boost

On Tuesday, Cathie Wood-led Ark Invest executed a significant trade involving Tempus AI Inc (NASDAQ:TEM).

The Tempus AI Trade

Ark Invest’s decision to sell Tempus AI Inc (NASDAQ:TEM) shares on Tuesday was executed through ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (BATS:ARKK). ARKG offloaded 6,309 shares, while ARKK sold 19,627 shares. With the stock closing at $81.01, the total value of the shares sold amounted to approximately $2.1 million.

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This move comes in the wake of Tempus AI’s recent acquisition of Paige, a company specializing in digital pathology, which had previously driven the stock higher.

Meanwhile, HC Wainwright cut its Tempus AI target to $90 but kept a Buy, while Morgan Stanley and BTIG maintained Overweight and Buy ratings with $68 and $85 targets, respectively, according to data from Benzinga Pro.

Other Key Trades

• Prime Medicine Inc (PRME): Ark Invest’s ARKG fund purchased 157,413 shares.
• Twist Bioscience Corp (TWST): The ARKG fund bought 5,405 shares, while the ARKK fund acquired 42,327 shares.

Benzinga’s Edge Stock Rankings show that Tempus AI stock checks out on Short, Medium and Long Price Trends. Here is how the stock ranks on other metrics.

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Photo: ChrisStock82 / Shutterstock

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal